JPMorgan Chase & Co. Cuts Rio Tinto (LON:RIO) Price Target to GBX 5,580

Rio Tinto (LON:RIO) had its price target cut by JPMorgan Chase & Co. from GBX 5,670 ($74.09) to GBX 5,580 ($72.91) in a report issued on Wednesday, Borsen Zeitung reports. They currently have an overweight rating on the stock.

RIO has been the subject of several other research reports. Credit Suisse Group set a €19.00 ($22.09) price target on shares of K&S and gave the company a neutral rating in a report on Tuesday, May 14th. Morgan Stanley set a $70.00 price target on shares of Edison International and gave the company a hold rating in a report on Monday, July 15th. HSBC set a $12.00 price target on shares of Transocean and gave the company a buy rating in a report on Monday, July 15th. Investec lowered shares of Rio Tinto from a buy rating to a hold rating in a research note on Wednesday, April 17th. Finally, Deutsche Bank upped their target price on shares of Canadian Pacific Railway from $230.00 to $260.00 and gave the stock a buy rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Rio Tinto currently has a consensus rating of Hold and an average target price of GBX 4,502.68 ($58.84).

Shares of RIO stock opened at GBX 4,851 ($63.39) on Wednesday. Rio Tinto has a 12-month low of GBX 3,460.50 ($45.22) and a 12-month high of GBX 5,039 ($65.84). The firm has a market cap of $61.56 billion and a price-to-earnings ratio of 6.16. The company has a quick ratio of 1.51, a current ratio of 1.92 and a debt-to-equity ratio of 25.60. The company has a fifty day moving average price of GBX 4,745.75.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 4,011 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of GBX 4,510 ($58.93), for a total transaction of £180,896.10 ($236,372.79).

Rio Tinto Company Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

See Also: Outstanding Shares and The Effect on Share Price

Analyst Recommendations for Rio Tinto (LON:RIO)

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